Curacao-licensed online casinos are in the shortest leash now as the Netherlands has applied financial restrictions on them to protect the rights of the gamers. An announcement from the Dutch government was found last year that it has reached an agreement. In the agreement, close attention on the structural reforms and measures have been given.
Announcement of the Dutch Government
Curacao was getting economical, financial and administrative support during the pandemic. As Curacao’s economy is mostly built on its tourism sector, during the lockdown of Covid-19, it faced a huge economic decrease. To fill up the gap, the little island was waiting for the economic support of the mainland. But, the Danish government refused to provide financial support by postponing it for a certain time. It has strictly mentioned that until Curacao does not impose strict rules to provide the gambling license, it will not release the third tranche of the economic package.
In an announcement the Dutch government has told that ensuring the structural reforms are very necessary for the gambling laws as the some of the betting sites are being operated illegally in some regions to execute businesses where licenses were not provided. The liquidity support which was being provided by the Netherland to Curacao will be provided again when the small island will be careful enough on the reconstruction of its betting laws so that taking license cannot be easy for any company which may execute the illegal activity. It is found that because of Dutch punters, easy approval of license is proving as a threat for the Dutch government.
The pandemic bailout was declared by Netherland without any obligation. It indicates that the third tranche will not be sent on the due time because of the delay in compliance with the laws. Though Curacao has agreed to comply with the request, the Dutch government will not listen until the measures regarding the betting laws are effective. It was found that Netherland was providing the warning from the last few years, but Curacao was not serious about that. But at present, the continuous pressure has made the little island to bow down on the decisions of the mainland.